GSA vs. PCGS, NGC & ANACs Slabbed Alone
Hi All, I've been absent for awhile due to heath issues which are, at this point, somewhat more under control. (Should write an article on "Pain Hacks"- lol.) Anyhow, this post is somewhat of a build on my last post, re: 1903 Proof Liberty Nickel. It seems that everyone agrees 'buy the coin, not the holder' is the correct approach. However, it is interesting that the CDN lists GSA Morgan Dollars in a separate price listing and at higher prices than non-GSA Morgan's. One can only conclude that the packaging must be valuable? This, of course, is non-sensical if we agree with the adage "buy the coin not the holder", box in this case. I have been looking for some Carson City Morgan's recently. While there are nice examples out there of both GSA & non-GSA Morgan's, on the average I've seen more GSA Morgan's with bag marks and scuff's in the frost (obverse) than the non-GSA Morgan's. The scuffs in the frost don't seem to be a big factor in grading from a technical standpoint? However, from a eye appeal perspective they are not as attractive coins. It seems the GSA bags of dollars were thrown around a good bit vs. coins plucked from circulation. So, my quest for a nice 1878-cc '63 (grade I was looking for) is attached. As it turned out, both from price and eye appeal perspective, I ended up with a non-GSA Morgan. It could have just as well been a GSA Morgan, however the eye appeal in many GSA Morgan's (same grade) was lacking. Please any remarks you would like to make, your input is appreciated.
Comments
Mal_ANA_YN
Level 5
Wow - nice CC Morgan!!!
Kepi
Level 6
Nice blog! Morgans CC's are a treasure indeed. I have a few in my collection, mostly graded PCGS. ; )
CoinCollector7777
Level 5
Nice coin. I've always wanted a CC Morgan dollar!
Long Beard
Level 5
I agree on the bag mark issue with a high percentage of the GSA's. Talking about premium, those with a grading firm set of tamper-proof stickers are even higher. I saw two at the PAN show a few weeks back, can't recall the dates/mintmarks but one was $850 the other $800.
Mike
Level 7
I doubt very much anyone we know got on the sight. It's a game with the mint. They have more reasons to shut down and reasons to kick you off when you get to check out. I have 26 Morgan's mostly raw and one CC from the government hoard. Personally my mentor told me you have to have some in your collection. I said I don't like the coin. I said she us a fat face and the hawk looks like a soul chicken. Well over the years 27 in would buy one. Nine are skabed. The rest raw. Thanks for the blog. They all seem to grade 63 and 64. Welcome back!!
user_9342
Level 3
Hi, thanks for your comments. Fyi, my US Mint web-page, which I kept open, is still saying "Please Wait, Your Order is Currently be Processed". What do you think, did I get the new Morgan's???
Longstrider
Level 6
Well you did it the correct way. You looked around and compared. I try not to pay too much attention to what some third party guy feels the coin is. A hint maybe but that is all. Personally I wanted a GSA but I also looked around till I saw a nice GSA not graded. I bought it and had it graded and sealed the holder as they do. I am very happy with it. If you just want a CC mint mark I see no reason to pay the GSA premium. Well done. Oh yeah, don't forget to get CAC involved. Now they are much tougher on grades than NGC or PCGS and I don't think they accept ANACS coins. I could be wrong on that.
user_9342
Level 3
Agree with what you wrote. If you want the GSA you can find it. Interesting that you found one that you liked both the technical and aesthetics as well that was not graded.. Regarding CAC, I asked the dealer when I bought it if he had sent it to CAC, response 'no'. He also told me that the collector he bought it from does not have coins sent to CAC. In his opinion it 'will sticker'. He just listed it because he knew it would sell quickly. He sells coins that are significantly higher in price so, for him, it was a no never mind. Nice of him to give me that information. To CAC it will go.
Golfer
Level 5
Welcome back and glad you are doing and feeling better. I don't have any C.C Morgan's but wish i had a bunch of them. Seems like a great area to collect. your 1878 look's really nice and that is one of the older holders? I heard during this holder area the graders may of been more conservative in the grading? Maybe it's a 64 anyway? Very nice looking Morgan.
user_9342
Level 3
Thank you. Morgan's in general are hot now, especially the Carson City mint. Perhaps the interest and strong price increases are associated with the US Mint minting 100th Anniversary of both the Morgan and Peace dollars (1921). Today, you could pre-order both the Carson City and New Orleans mint. Limit 10 per household at $85 each, total mintage 175,000. Mint's servers were crashing, it was an effort using two computers and four screens. Maybe, just maybe, my pre-order was expected. Haven't heard anything yet. The pre-orders for the "D" and "S" mintmarks plus the Peace Dollar are in a few days. And, yes, the perception is the older PCGS slabs were graded more strictly at that time. Seem to be the case. Think I'm going to try for the CAC sticker first and then maybe send it to PCGS. Have to think about what is the best strategy. Thanks for your comments and wishes for my health.